1. A Look at the Federal Budget
The annual budget process begins with the president submitting a budget to congress, which has four separate process for making budget decisions, and then to agencies so they can implement their approved budgets. ... The budget and Accounting Act of 1921 provides the legal basis for the presidential budget system. ... The act also established the Bureau of the Budget, now the Office of Management and Budget, to assist them in creating and implementing the budget. The basic framework of the budget process was enumerated from the Congressional Budget and Impoundment Control Act of 1974 which est...
- Word Count: 1854
- Approx Pages: 7
- Grade Level: Undergraduate